Small business is an expanding. Launching a small business in a profitable niche promises success, but finding that niche isn’t easy. To help you out, we compiled a list of the 7 most profitable small business concepts.
If you still feel stuck in planning your small business, let us help you out! EdgyLabs is a company that brings together a multidisciplinary team of professionals who are passionate about technology. Our broadly cumulated experience offers many perspectives on technological innovation. We can manage any size project and provide continual solutions throughout the life of your business.
Consider these 7 Small Business Investments:
1. Accounting and Human Resources
Accounting and Tax Preparation come in at the top, and regardless of the economic situation, they remain the most profitable small business idea in theory, with an average 18.4% net profit margin. This category also includes bookkeeping, payroll, and administrative services.
EdgyLabs has an array of complementary services that will help you bring your project to life.
2. Technical Management
This category is second in terms of average net profit margin at 15.5%. Technical management includes scientific and technical consulting services and management of companies and enterprises.
With the help of EdgyLabs, reflect on the commercial potential of your business and study the implementation of structured commercial actions.
3. Office Space
Providing offices for real estate agents and brokers, dentists, other health practitioners, and private offices of individual physicians fall under this category. It has an average profitability potential of 15.19% net.
EdgyLabs can help you by creating a GPS-based app, or co-working platform. By simplifying interactions, the portal would offer a broader, more up-to-date and comprehensive directory of office spaces in the area. Users would appreciate the quality, quantity and fresh info.
Rentals and leasing together is one of the most “uberisable” businesses out there, as rentals are always on-demand. This category comprises automotive equipment rental and leasing, real estate rentals, commercial and industrial machinery and equipment rental and leasing.
EdgyLabs can offer software in the form of apps that will be a true customer relationship media for your business. A solution such as this was developed by EdgyLabs for one of our customers, DesignDash, in the form of a tailor-made design software.
5. Legal Services
Legal services are one of the most profitable small businesses. A lawyer, a legal specialist, or legal adviser intervenes with individuals, professionals, and authorities. In other words, everyone needs them, just like accountants. Enjoy a high margin profit of 14.48% net, low operating costs and repeat clients.
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6. Specialized Design
Specialized Design category can include design agencies, design departments integrated with other companies, independent contractors and freelancers. Graphic design, industrial design, illustration, web design, 3D animation, video games, interior decoration are all integral parts of many businesses and therefore is in high demand and due to low production costs, are very lucrative.
EdgyLabs offers web design service and comprehensive website development (website creation, indexing), as well as improving site notoriety, SEO and Social Marketing campaigns. Our developers provide strategic and custom-made solutions for the long term that will help you build then maintain a professional, attractive and representative image of your business.
7. Power Generation
Last but not least, with a profit margin at 14.02% net and an ever-increasing demand, the power providing small business.
This includes electric power generation, transmission, and distribution. Energy small businesses can compete by playing the “local” and “renewable energy” card. More and more people are getting into the habit of comparing services of power suppliers in order to realize big savings.
Create a small solar farm and/or purchase excess power and sell power at a profit. This is the small business investment with the most room for imagination.
Tell us, Edgy Labs readers: are there any small business products or services you need help with? Let us know and we will help you succeed!